From a new poll:
NEW YORK, Sept. 9 /PRNewswire-USNewswire/ -- Almost two in three Americans (65%) say a double-dip recession -- defined as a recession followed by a short-lived recovery, followed by another recession -- is now likely to happen. Among those who expect a double-dip recession, nearly half (44%) fear it will be worse than the first one, with 21% worried it will be "much more severe." Just 24% think the second recession will be less severe. These findings come from a recently conducted survey of 1,043 Americans by the polling firm StrategyOne, a Daniel J. Edelman company.
It's worth noting that most economists doubt there will be a double-dip, but many of them expect growth to be so anemic that it might seem like one. Besides, at this point it doesn't much matter what the actual numbers show - people are programming themselves to expect the worst, even though many parts of the country are recovering quite nicely. The most depressing response in the survey:
71% agree that America is fundamentally broken and not working.
I don't believe that to be true, but it's easy to see why people would feel that way.



Mark Lacter created the LA Biz Observed blog in 2006. He posted
until the day before his death on Nov. 13, 2013.